Fitness financials: Forzani renews normal course issuer bid, plus Wal-Mart, Costco
The Forzani Group (TSX: FGL) said the Toronto Stock Exchange has accepted its application to renew its normal course issuer bid to purchase outstanding Class "A" shares. All purchases will be made through the facilities of the TSX. Plus, Wal-Mart's same-store sales rise in March and Costco March same-store sales down 5 percent.
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Forzani renews normal course issuer bid
The Forzani Group (TSX: FGL) said the Toronto Stock Exchange has accepted its application to renew its normal course issuer bid to purchase outstanding Class “A” shares. All purchases will be made through the facilities of the TSX.
As of April 9, there were 30.4 million common shares issued and outstanding. During the most recent normal course issuer bid, which commenced March 28, 2008, and expired March 27, 2009, the company purchased 2.6 million common shares, at an average price of $16.35.
The company said in a filing that the number of common shares which may be purchased during the period of the bid will not exceed 2.4 million common shares, which is approximately 10 percent of the public float of the company.
Forzani’s retail banners include Sport Chek, Coast Mountain Sports, Sport Mart and Fitness Source.
Wal-Mart’s same-store sales rise in March
For the month of March, Wal-Mart (NYSE: WMT) said U.S. same-store sales rose 1.4 percent. Including fuel, same-store sales rose 0.7 percent.
Total sales during the five weeks ended April 3 dropped 1.9 percent to $36.2 billion compared to $36.9 billion last year.
Same-store sales rose 0.6 percent at the company’s U.S. namesake stores and 6.2 percent at its Sam’s Club warehouses.
The company said first-quarter earnings will be at the high end of its outlook — between $0.72 and $0.77 per share.
Costco March same-store sales down 5 percent
Costco (Nasdaq: COST) said its same-store sales dropped 5 percent in March, hurt by lower gas prices and the stronger dollar. Excluding these factors, its same-store sales gained 4 percent for the period ended April 5.
Total monthly sales fell 3 percent to $6.39 billion versus $6.57 billion in the same five-week period last year.
–Compiled by Wendy Geister
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